Amundi Sells 419,706 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Amundi decreased its position in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 7.8% in the 2nd quarter, Holdings Channel reports. The firm owned 4,980,487 shares of the business services provider’s stock after selling 419,706 shares during the quarter. Amundi’s holdings in Interpublic Group of Companies were worth $132,625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its position in shares of Interpublic Group of Companies by 72.0% during the second quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the business services provider’s stock worth $34,000 after buying an additional 585 shares during the period. Brooklyn Investment Group boosted its position in Interpublic Group of Companies by 20.0% during the first quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 391 shares during the last quarter. Private Trust Co. NA boosted its position in Interpublic Group of Companies by 22.9% during the second quarter. Private Trust Co. NA now owns 2,606 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 485 shares during the last quarter. Assetmark Inc. grew its holdings in Interpublic Group of Companies by 54.1% during the 2nd quarter. Assetmark Inc. now owns 3,071 shares of the business services provider’s stock worth $75,000 after acquiring an additional 1,078 shares during the period. Finally, Employees Retirement System of Texas bought a new position in shares of Interpublic Group of Companies in the 2nd quarter worth about $75,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IPG shares. Weiss Ratings restated a “hold (c-)” rating on shares of Interpublic Group of Companies in a research report on Monday, November 24th. Barclays dropped their price target on Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Zacks Research cut Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Finally, Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a research note on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.18.

Interpublic Group of Companies Trading Down 1.7%

NYSE:IPG opened at $24.63 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a one year low of $22.51 and a one year high of $33.05. The company has a market cap of $8.95 billion, a PE ratio of 20.87 and a beta of 1.12. The firm has a 50-day moving average of $25.84 and a 200-day moving average of $25.38.

About Interpublic Group of Companies

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.